Raymond James Financial Services Advisors Inc. bought a new stake in shares of Malibu Boats, Inc. (NASDAQ:MBUU) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,100 shares of the company’s stock, valued at approximately $288,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Teachers Advisors LLC lifted its stake in shares of Malibu Boats by 15.7% in the 1st quarter. Teachers Advisors LLC now owns 38,933 shares of the company’s stock worth $874,000 after purchasing an additional 5,282 shares during the period. Vanguard Group Inc. lifted its stake in shares of Malibu Boats by 22.1% in the 1st quarter. Vanguard Group Inc. now owns 807,539 shares of the company’s stock worth $18,129,000 after purchasing an additional 146,263 shares during the period. Geode Capital Management LLC lifted its stake in shares of Malibu Boats by 13.9% in the 1st quarter. Geode Capital Management LLC now owns 150,717 shares of the company’s stock worth $3,382,000 after purchasing an additional 18,353 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Malibu Boats by 55.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 376,257 shares of the company’s stock worth $8,447,000 after purchasing an additional 134,987 shares during the period. Finally, Morgan Stanley lifted its stake in shares of Malibu Boats by 7.0% in the 1st quarter. Morgan Stanley now owns 89,983 shares of the company’s stock worth $2,020,000 after purchasing an additional 5,857 shares during the period.
In other Malibu Boats news, CFO Wayne R. Wilson sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $31.20, for a total transaction of $1,092,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Ritchie L. Anderson sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $31.15, for a total transaction of $467,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,497 shares of company stock worth $2,716,297. 3.50% of the stock is owned by company insiders.
Several brokerages have recently weighed in on MBUU. B. Riley cut shares of Malibu Boats to a “neutral” rating and set a $25.25 price objective on the stock. in a research note on Saturday, September 2nd. BMO Capital Markets upgraded shares of Malibu Boats from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $29.00 to $32.00 in a research note on Monday, September 11th. SunTrust Banks reiterated a “buy” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Malibu Boats in a research note on Friday, September 8th. Zacks Investment Research upgraded shares of Malibu Boats from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a research note on Thursday, September 7th. Finally, ValuEngine upgraded shares of Malibu Boats from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $32.31.
Shares of Malibu Boats, Inc. (NASDAQ:MBUU) opened at $31.62 on Friday. Malibu Boats, Inc. has a one year low of $17.17 and a one year high of $33.35. The company has a market cap of $629.15, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 1.08 and a beta of 1.00. The company has a current ratio of 1.46, a quick ratio of 0.71 and a debt-to-equity ratio of 0.94.
Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, September 7th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Malibu Boats had a net margin of 9.42% and a return on equity of 54.78%. The company had revenue of $75.11 million for the quarter, compared to analysts’ expectations of $73.35 million. During the same quarter last year, the business earned $0.38 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. equities analysts forecast that Malibu Boats, Inc. will post 1.91 earnings per share for the current year.
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About Malibu Boats
Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.
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